Chainlink (LINK) forms a potential bear flag pattern on the 12-hour chart, currently in consolidation. The key resistance level is around $10, and downside risk still exists. The token is currently trading near $8.60, below all major daily moving averages, including the 20-day moving average at $8.72 and the 50-day moving average at $10.26. If it fails to break back above the $10 level, it may test support around $8.20. Although the MACD indicator shows slight improvement in the short term, the RSI is at 43.30, indicating weak momentum, and the overall bearish trend remains.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Chainlink (LINK) forms a potential bear flag pattern on the 12-hour chart, currently in consolidation. The key resistance level is around $10, and downside risk still exists. The token is currently trading near $8.60, below all major daily moving averages, including the 20-day moving average at $8.72 and the 50-day moving average at $10.26. If it fails to break back above the $10 level, it may test support around $8.20. Although the MACD indicator shows slight improvement in the short term, the RSI is at 43.30, indicating weak momentum, and the overall bearish trend remains.